< Previous84 TEXAS ECONOMIC DEVELOPMENT GUIDE opportunities,” said CEO Albert Manifold. “We also believe there is significant potential to unlock additional growth opportunities across an expanded footprint in this attractive growth market.” Uranium Set to Expand Texas being at the forefront of a nascent national project to resurrect the nuclear power industry, new opportunities are emerging to leverage the state’s vast deposits of uranium. Texas, according to the National Uranium Resource evaluation, holds 24% of all U.S. speculative uranium resources. “Considering the recent restriction of global supply and continuing interest in growing electricity generation from nuclear energy,” reads a 2024 report prepared for the Texas Commission on Environmental Quality, “there has been a noticeable interest to increase uranium production across the U.S., and particularly in Texas.” Texas was one of the most active and prolific uranium mining locations in the U.S. before the 1980s, when prices declined in tandem with a standstill in new nuclear plant construction. “But suddenly,” says Elliott, “we’re starting to crank up our uranium mining operations.” A significant number of uranium mines — in various stages of operation — are located amid sandstone formations across a dozen or so counties in the Texas Gulf Coast region. EnCore Energy, which calls itself “America’s newest uranium producer,” recently launched production at two South Texas sites and hopes to bring four more online by 2027. In Golliard County, Uranium Energy Corp. plans to mine 420 acres of the Evangeline Aquifer using in-situ recovery, which allows for mining far beneath the surface. By one estimate, Texas could supply 40% of U.S. uranium demand by 2030. Rare Earth Minerals Poised for Investment Evolving national priorities are opening still another avenue for the Texas mining industry, namely the recovery and processing of rare earth elements and other industrial minerals essential to the development of advanced electronics. Supported by grants from the U.S. Department of Defense totaling $288 million, Australia-based Lynas Rare Earth is developing a rare earth processing facility in the coastal town of Seadrift that could process an estimated 25% of the world’s supply of rare earth element oxides when it begins operations this year. Lynas is considered the world’s largest producer of rare earths outside of China. Its Texas operation is expected to create 300 direct, indirect and induced jobs when fully operational. The 150-acre site, the company says, “will allow for co-location of Heavy Rare Earths Texas is a top producer of sand for construction projects. Photo from Getty Images/dsczTEXAS ECONOMIC DEVELOPMENT GUIDE 85 and Light Rare Earth separation and processing as well as potential growth opportunities such as downstream processing and recycling.” In Hudspeth County in extreme West Texas, the 1,250-foot Round Top Mountain holds hundreds of millions of metric tons of rare earth elements just waiting to be extracted, a prospect that could represent a significant step toward breaking China’s monopoly on rare earth mining and processing. Two companies — USA Rare Earth and Texas Mineral Resources Corp. — have put millions of dollars into studying the mountain’s potential profitability. The companies estimate the deposits there are worth about $1.56 billion. That they haven’t yet gone forward, says Elliott, is largely due to the vagaries of commodity prices and the high cost of separating rare earths from minerals of less value. “They have it all set up,” says Elliott. “I just think they’re waiting for an investor to come in there and actually do it.” And, he says, “there are probably more than 100 of these kinds of igneous rock bodies across West Texas, and a lot have as much or more rare earth concentration as Round Top does. It’s a matter of getting investors lined up.” Texas Mineral Resource Photo courtesy of University of Texas Bureau of Economic Geology86 TEXAS ECONOMIC DEVELOPMENT GUIDE by ALEXIS ELMORE THERE YOUGET TRANSPORTATION & LOGISTICS F or product to move efficiently, it’ll move through Texas. The state is home to 32 ports of entry, 23 seaports, 35 Foreign Trade Zones, 380 airports, over 314,600 miles of roadway and 10,500 miles of freight rail. Its central location and robust transportation network provides seamless reach to domestic and international markets. The industry contributes over $303 billion to Texas’ GDP annually. State leadership has identified two target clusters — distribution and e-commerce, and transportation and aviation services — that its assets are well- positioned to serve. The sector as a whole is responsible for supporting over 2.7 million jobs across the state, a majority of which are within the distribution and e-commerce cluster. By 2032, this cluster is expected to experience 41% GDP growth. The transportation and aviation cluster will see an anticipated 29% increase for a total contribution of $450 billion to GDP. WE’LL88 TEXAS ECONOMIC DEVELOPMENT GUIDE These projections hold great promise. So the state is focused on the groundwork necessary to ensure, whether it be business or pleasure, movement from, to or within Texas take place with ease. Smooth Travel Awaits In August 2024, Gov. Greg Abbott and the Texas Department of Transportation (TxDOT) announced a 10-year $148 billion investment focused on enhancing the state’s transportation infrastructure. This record-breaking investment is the state’s largest to date, reflecting a $5.6 billion increase from the year prior. U-Haul’s annual Growth Index has consistently seen Texas top its list as a leading growth state. For nearly a decade the state has ranked No. 1 or No. 2 among the 50 states in U-Haul moves into the state. According to U.S. Census Bureau estimates, the state is now home to over 31 million residents, adding more than 562,000 new residents between July 2023 and July 2024. Increased growth is reliant on a dependable transportation system that benefits the day-to-day activity of its residents and businesses. “Strengthening our roadways and transportation infrastructure is critical for Texas to remain the Best State for Business in the nation,” said Gov. Abbott. “With the adoption of this record-breaking $148 billion transportation investment, Texas will continue to meet the needs of Texans in rural, urban and suburban communities while also improving roadway congestion and safety. People come to Texas because we provide the freedom and opportunity they can’t find anywhere else, and that’s why we’re investing in the future of Texas roads. Projects like this will ensure our products and people can move quickly to keep the Texas economy booming. Together, we are building a bigger, better Texas for years to come.” An investment breakdown shows that over $104 billion will be distributed over the next decade toward transportation projects outlined in TxDOT’s 2025 Unified Transportation Program (UTP). The UTP was created to serve as a roadmap of critical transportation projects and allow TxDOT to distribute allocated funding across 12 categories including Metropolitan and Urban “ Not only are we easing commutes in larger cities, but we’re also helping rural areas, and improving Texans’ quality of life no matter where you live. ” — J. Bruce Bugg Jr., Texas Transportation Commission Chairman90 TEXAS ECONOMIC DEVELOPMENT GUIDE Area Corridor Projects, Statewide Connectivity Corridor Projects and Strategic Priority Projects. The priority placed on many projects listed under the 2025 UTP was contingent on public feedback gathered and presented to the Texas Transportation Commission. The investment announcement noted that many projects identified on the 2025 UTP are roadway segments that top Texas’ 100 Most Congested Roadways list. Projects moving forward this year take strategic focus to highly congested roads throughout districts in Austin, Dallas, El Paso, Fort Worth, Houston, San Antonio and more. New data released by Texas Transportation Institute show that hours of delay faced by a Texas commuter are down 15% in the last decade. This promising statistic comes as a result of transportation initiatives like Texas Clear Lanes. Since 2015, Texas Clear Lanes has supported $80 billion in projects, including roadways found on the Top 100 Most Congested Segments list, aiming to relieve congestion. To build upon the initiative’s success, Texas Clear Lanes will receive $1.9 billion in funding. “We took the charge from Gov. Greg Abbott 10 years ago and turned it into a major program that provides congestion relief where it’s needed most,” said Texas Transportation Commission Chairman J. Bruce Bugg Jr. “Not only are we easing commutes in larger cities, but we’re also helping rural areas, and improving Texans’ quality of life no matter where you live.” Remaining funding will put $43 billion toward development and routine maintenance, a $17.3 billion investment into safety projects, and $1.7 billion dedicated to rural corridors and key roadways in economic hubs. Industry Investment Rides In Already home to top companies such as Amazon, Southwest Airlines, American Airlines, Walmart, R+L Carriers, UPS and more, Texas remains a key location for long-term logistics and distribution success. Strategic transportation infrastructure investments have ushered in a wave of new project investment from domestic and international companies looking to streamline speed to market RK Logistics Group will invest in a second fulfillment warehouse in Austin, Texas. This investment comes two years after the company arrived in Texas, locating its first 200,000-sq.-ft. distribution facility in the Austin suburb of Kyle. The new 84,000-sq.-ft., 15-dock- door facility is strategically located near the Austin-Bergstrom International Airport, which the company states will enhance Texas leadership continue to invest in critical infrastructure projects that provide connectivity and resilience by air, road and rail. Photos courtesy of Travel Texas Port Houston Bayport Terminal Photos courtesy of Port HoustonTEXAS ECONOMIC DEVELOPMENT GUIDE 91 operational efficiency and ensure support for mission-critical next- flight-out shipments. RK Logistics will use the new temperature- controlled warehouse to provide supply chain management services designed for semiconductor, automotive and EV battery operations. Americold Realty Trust announced in March 2025 that the company would be investing $127 million to acquire a facility at the Cedar Port Industrial Park in Baytown, Texas. The investment comes as a result of Americold securing a grocery retail contract with a leading global retailer, selecting the Houston area due to the ability to serve a mix of customers in the market. “This is a compelling example of Americold’s strategy to expand its market-leading presence in the high-turn, retail segment of the cold storage supply chain.” said Americold CEO George Chappelle. “This acquisition also furthers our strategy to purchase assets in key markets to support customer growth and deliver the world-class service that customers have come to expect from Americold.” International players include Demark-based DSV, which is currently planning to expand its presence near the U.S.-Mexico border. The company announced a new $90 million investment to construct a 905,000-sq.-ft. distribution center in Laredo, creating 178 new jobs. The new facility at the Porte Grande logistics park is located about 15 minutes away from the company’s current freight hub in the region. 92 TEXAS ECONOMIC DEVELOPMENT GUIDE T exas is proving once again that everything is bigger — and better — when it comes to economic growth. From the booming tech hubs of Austin to the bustling trade corridors along the Gulf Coast, the Lone Star State is riding a wave of success that’s catching the attention of investors nationwide. With a vast portfolio of industries, ranging from energy and space exploration to cutting-edge tech and innovative biotech, Texas has quickly become the go-to destination for businesses looking to stake their claim in a rapidly changing world. The state outpaced the national growth average with a robust 4.8% expansion in 2024, cementing its position as a powerhouse in the U.S. economy. Cities like Dallas, Houston and Austin, and many other cities across the state, are buzzing with energy, innovation and investment, proving that Texas’ winning formula of low taxes, business-friendly policies and an ever-growing talent pool is as strong as ever. From record-breaking job growth to massive infrastructure projects, communities across Texas have proven their ability to tackle tomorrow’s challenges today. CENTRAL TEXAS Located in the heart of the Lone Star State, Central Texas is a vital connector between some of Texas’ most dynamic communities along the I-35 corridor. Austin, the beating heart of Central Texas, has evolved from a laid-back college town into a global tech powerhouse, earning the nickname “Silicon Hills.” Companies like Tesla, Apple and Dell have set up major operations here, fueling a booming economy and attracting top-tier talent. But Austin isn’t just about business; the city thrives on creativity. With its vibrant live music scene, an ever-expanding food culture and iconic events like South by Southwest (SXSW), the city remains a magnet for artists, tourists and innovators alike. by LINDSAY LOPP A blueprint for statewide economic success. TEXAS’ 10 REGIONS REGIONAL PROFILESTEXAS ECONOMIC DEVELOPMENT GUIDE 93 Further north, Waco is experiencing a renaissance of its own. Once defined primarily by Baylor University, the city has grown into a tourist hotspot thanks to Magnolia Market, while also making strides in aerospace and defense with industry leaders like L3Harris and SpaceX investing in the area. Nearby, Killeen stands as a cornerstone of national defense, home to Fort Cavazos — one of the largest military bases in the country — and a key economic driver for the region. The talent pool in Central Texas is powered by an expansive network of leading universities that fuel innovation and workforce development across the region. At the forefront is The University of Texas at Austin, the region’s flagship institution and one of the top public universities in the country. Renowned for its cutting- edge programs in fields such as computer science, electrical engineering and aerospace engineering, UT Austin is at the forefront of research that drives the Texas technology scene. The university is home to world-class research centers like the Cockrell School of Engineering, which is known for its groundbreaking work in areas like robotics, sustainable energy and semiconductor technology. Although slightly east of the I-35 corridor, Texas A&M University in College Station plays a central role in shaping the region’s development. With over 72,000 students, Texas A&M excels in fields such as engineering, agriculture and biomedical sciences, and its reputation for producing top-tier talent is unmatched. The university’s Health Science Center and innovative research facilities contribute significantly to advancements in medicine and technology, benefiting not only the state but the nation. Lake Austin Photo courtesy of Travel Texas Next >